Four Major Things That You Should Never Do As A Real Estate Investor

One of the things you must never do as a real estate investor is be dismissive of other people, especially potential clients. Unfortunately, this is a habit that can slowly creep in to your life and work, especially as one gains more income and success in the real estate business. Despite this inevitable creeping in, being dismissive of potential clients and partners can really slow down and sidetrack your otherwise growing career. Here is how to avoid being dismissive in real estate.

Avoid assuming things about people based on their appearance. While it may seem that the guy dressed in a t-shirt and funky shorts may be out of place at your high end or middle class real estate business, you never know what the guy’s true net value and income is. He could actually be a wealthy man or successful entrepreneur. There are plenty of tech and internet entrepreneurs that do not follow the traditional rules of attire and etiquette.

You should also not be dismissive of people looking at cheaper housing you have available. The person could very well afford to live in a more expensive and lavish home, but may chose to live on a budget instead. Some people, including middle class and well to do folk are extremely frugal with their housing expenses.

Another thing to keep in mind is that you cannot tell where people will be in the future. Someone may not be able to afford to rent one of your apartments or buy one of your homes right now. However, they may be able to to do so in the future. People’s income changes. It makes sense to be nice to them now, so that later down the road they will remember your kindness and professionalism. If you were rude to someone in the past, they will probably find another place to buy or rent a home. The same concept applies to contractors and suppliers. Be nice to them now and you just might be able to work out a deal favorable to you in the future.

The third thing to try to avoid as a real estate businessman is bad experiences and their spreading. Bad experiences are much more likely to be spread online, by word of mouth and even in newspaper than good experiences. Even if a customer is being rude or unprofessional, you need to maintain your composure and act professional at all times. You need to remember that there are plenty of people who love to gossip and will not hesitate to post a negative review or experience about a business they visited. Don’t give them a reason to do so about you.

When dealing with difficult and rude people, you should also remember that they might know someone who holds significant sway in the real estate industry. For example, they may have a friend or relative that serves on an apartment building board. Or they can know building inspectors or reporters. You don’t want these people to let their friends or relatives know about their bad experience and have them target you.

You should also never forget that their are fair housing laws in place that prevent discrimination when people buy or rent property. If you discriminate you could land in hot water with the law and face lawsuits and fines. Housing inspectors are also periodically doing random testing, so you should never discriminate against prospective buyers and tenants.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s